Mississauga, ON -- (SBWIRE) -- 09/05/2013 -- AllPennyStocks.com Media, Inc. (http://www.AllPennyStocks.com/) announces its latest article titled “Pethealth 24PetWatch Database Surges to Over Seven Million.”
Companies mentioned in this article include Cabela’s Inc. (NYSE:CAB), Wal-Mart Stores, Inc. (NYSE:WMT) and Pethealth Inc. (TSX:PTZ).
The American Pet Health Insurance Association estimates that the pet insurance industry in North America is about $500 million and growing at a steady 13-percent-per-year rate. Seems like while American’s wrangle over who should be paying for healthcare, family pets are benefiting from people not having a problem opening their wallets for insurance. It would be a fair argument that at least that’s discretionary spending for one’s own house, not footing the bill for someone else. A facetious comparison, understand that most pet insurance policies are underwritten by property and casualty insurance, not health insurance.
All that aside, people love their pets, often treating them as a part of the family, similar to a human. They want to make sure that they are safe, healthy and know there location should they stray from home; and they’re willing to pay for it.
Major retailers like Cabela’s Inc. (NYSE:CAB) and Wal-Mart Stores, Inc. (NYSE:WMT) have jumped on the pet wagon, offering consumers pet insurance.
A few years ago, there was only one company in the business, Veterinary Pet Insurance, which was founded in 1982 and still controls the bulk of the market. But, other companies have been popping up with the growing industry. Pethealth Inc. (TSX:PTZ) is one of those firms, now the second largest provider of medical insurance for pets in North America, operating in the U.S., Canada and the United Kingdom. As far as Canada goes, Pethealth is the biggest provider of major medical insurance for cats and dogs.
The full version of this article can be found at:
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